FuelCell Energy Applauds the Signing of House Bill 6524 in Connecticut
July 14 2021 - 8:00AM
FuelCell Energy, Inc. (Nasdaq: FCEL) — a
global leader in fuel cell technology with a purpose of utilizing
its proprietary, state-of-the-art fuel cell platforms to enable a
world empowered by clean energy — applauds Governor Ned Lamont on
the signing of Connecticut House Bill 6524, An Act Concerning the
Solicitation of New Fuel Cell Electricity Generation Projects. The
bill requires the Connecticut utilities to solicit proposals to
acquire new fuel cell electricity generation projects that begin on
or after July 1, 2021. Projects submitted under this mandate will
be approved by January 1, 2022. The evaluation used in the proposal
selection process will be based on both enhancing distribution
energy system reliability and security, as well as support of
microgrids to ensure critical resources continue to operate during
power disruptions. House Bill 6524 provides preference for projects
that are sited on brownfields as Connecticut demonstrates its
commitment to energy equity and for fuel cells that are
manufactured in Connecticut. The energy transition, and the
forecasted importance of distributed hydrogen, positions
Connecticut to continue as a global leader in clean technology
essential in achieving global sustainability objectives through
fuel cell deployment.
“We believe this bi-partisan bill is a smart
investment for Connecticut’s electrical grid, environment, and
economy, providing Connecticut the opportunity to play a leading
role in the energy transition,” said Jason Few, President and
Chief Executive Officer, FuelCell Energy, Inc. “Again, we
thank Governor Lamont and the Connecticut House of Representatives
for this important energy transition legislation.”
The total amount of fuel cell generated capacity
to be procured under this bill is 30 megawatts, which are to be
apportioned to the two in-state local electrical distribution
companies based on their respective distribution load.
About FuelCell Energy
FuelCell Energy, Inc. (NASDAQ: FCEL): FuelCell
Energy is a global leader in sustainable clean energy technologies
that address some of the world’s most critical challenges around
energy, safety and global urbanization. As a leading global
manufacturer of proprietary fuel cell technology platforms,
FuelCell Energy is uniquely positioned to serve customers worldwide
with sustainable products and solutions for businesses, utilities,
governments and municipalities. Our solutions are designed to
enable a world empowered by clean energy, enhancing the quality of
life for people around the globe. We target large-scale power users
with our megawatt-class installations globally, and currently offer
sub-megawatt solutions for smaller power consumers in Europe. To
provide a frame of reference, one megawatt is adequate to
continually power approximately 1,000 average sized U.S. homes. We
develop turn-key distributed power generation solutions and operate
and provide comprehensive service for the life of the power plant.
Our fuel cell solution is a clean, efficient alternative to
traditional combustion-based power generation, and is complementary
to an energy mix consisting of intermittent sources of energy, such
as solar and wind turbines. Our customer base includes utility
companies, municipalities, universities, hospitals, government
entities/military bases and a variety of industrial and commercial
enterprises. Our leading geographic markets are currently the
United States and South Korea, and we are pursuing opportunities in
other countries around the world. FuelCell Energy, based in
Connecticut, was founded in 1969.
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FuelCell Energy logo are all trademarks of FuelCell Energy,
Inc.
Contact:
FuelCell Energy,
Inc.ir@fce.com203.205.2491Source: FuelCell
Energy
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